These deals cover a wide range of cooperation areas such as oil&gas, finance, banking, post and telecommunications, electricity, small satellites for monitoring natural resources and the environment, urban planning and food processing.

Addressing nearly 300 Vietnamese and French entrepreneurs at the forum, Mr Fillon said economic and investment cooperation between the two countries has yet to match their potential.

He said Vietnam is a dynamic economy in Southeast Asia and French companies should not miss business opportunities here. He suggested that the High-level Council for Vietnam-France Economic Development introduce measures to help the two business communities establish partnerships and increase investment ties.

He spoke of France’s responsibility for dealing with the consequences of global warming and said that with their experience French businesses can help Vietnam maintain sustainable development and protect the environment.

For his part, Deputy PM Nguyen Sinh Hung welcomed Mr Fillon’s proposals and called on the two business communities to work harder to keep up the fine Vietnam-France friendship. 

He said French businesses should extend France’s historical and cultural influence on Vietnam into a greater economic, trade and investment presence in the country, making it easier for them to penetrate other markets in Southeast Asia later.

The Vietnamese government will create incentives for foreign investors, including those from France, to do business in the country, said Mr Hung.

He pointed to the fact that leading French groups are operating efficiently in energy, information technology, and wholesale and retail services in Vietnam.  

The Deputy PM thanked France for its assistance to Vietnam’s infrastructure construction, socio-economic development, poverty reduction and environmental protection projects. He expressed his hope that French entrepreneurs will put forward new business and investment ideas after the forum.

PM Fillon answered questions relating to his government’s policy of attracting international students, Vietnam’s role in the French-speaking community and the current global financial turmoil. 

At present, 250 French companies are operating in Vietnam. France is the largest European investor in Vietnam and ranks 13^th out of 88 countries and territories investing in the country. It is Vietnam’s third largest trading partner, with last year’s two-way trade valued at nearly US$1.8 billion, of which US$786 million was from Vietnamese exports.